(BKR) - Analyzing Baker Hughes's Short Interest
Portfolio Pulse from Benzinga Insights
Baker Hughes (NYSE:BKR) has seen a 10.38% increase in its short percent of float since the last report, with 21.10 million shares sold short, representing 3.19% of its available shares. This indicates a bearish sentiment among investors, although it's not a definitive predictor of a price drop. Compared to its peers, BKR has a lower short interest percentage of 3.19% versus the peer group average of 7.76%, suggesting less bearish sentiment towards BKR relative to its peers.
February 29, 2024 | 1:30 pm
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Baker Hughes's short interest has increased by 10.38%, with 21.10 million shares sold short. This represents 3.19% of its float, lower than its peer average of 7.76%.
The increase in short interest for BKR indicates a bearish sentiment among investors, which could lead to increased volatility or downward pressure on the stock price in the short term. However, being below the peer average suggests less bearish sentiment towards BKR compared to its peers, potentially mitigating the impact. The overall market perception and the company's fundamentals will also play significant roles in determining the stock's short-term movement.
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IMPORTANCE 75
RELEVANCE 100